secwatch.observer — SEC 8-K summary
======================================

Issuer:     Granite Point Mortgage Trust Inc. (GPMT)
CIK:        0001703644
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001703644-23-000116
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite Point Q3 GAAP net loss $24.5M ($0.48/share); repays $132M convertible notes
--------------------------------------------------------------------------------

- GAAP net loss attributable to common stockholders of $24.5M, or $(0.48) per basic share, with $31.0M provision for credit losses.
- Pre-loss Distributable Earnings of $9.5M ($0.18/share); Distributable Loss of $7.3M after $16.8M loan write-off.
- Book value per common share $13.28; total CECL reserve $148.9M (4.9% of portfolio), up $14.3M from Q2.
- Redeemed $132M of Convertible Senior Notes due Oct. 1, 2023; no corporate debt outstanding post-redemption.
- Post-quarter JPMorgan financing facility upsized to $525M; unrestricted cash ~$178M as of Nov. 3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1703644/000170364423000116/0001703644-23-000116-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1703644/000170364423000116/gpmt-20231107.htm
  HTML page:      https://secwatch.observer/filing/0001703644-23-000116

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer